Saksoft acquired majority stake in 360 Logica

Saksoft Ltd has acquired a 51 per cent stake in ThreeSixty Logica Testing Services, a privately held independent software testing service company, for an undisclosed sum to strengthen testing and quality assurance (QA) service offerings.

Acquisition Of Majority

Seller

360 Logica

Buyer

Saksoft

Focus Sector

Testing and Quality Assurance

In a bid to strengthen testing and quality assurance (QA) service offerings, Saksoft Ltd has acquired a 51% stake in software testing service startup, ThreeSixty Logica. The amount of the deal was kept undisclosed.

The Saksoft is a Chennai-based Information Management solutions company, providing it services to some fortune 100 companies. ThreeSixty Logica offers high-end software testing programs and test solutions to independent software vendors, software product companies and SMEs.

According to the deal, the management team of ThreeSixty Logica will continue to run the company as Saksoft would like to benefit from their entrepreneurial skills and knowledge of the testing domain.

On this development, Aditya Krishna, CEO, Saksoft said, “There is considerable potential in the testing business and this acquisition will help Saksoft grow faster. This is in the backdrop of demand for independent testing services growing at a rapid pace in the social, mobile, analytics and cloud and e-commerce environment.”

Niraj Ganeriwal, CFO, Saksoft, said, “in the future, there is scope to acquire a 100% stake in ThreeSixty.” Last year for the quarter ended September, Saksoft reported a net profit of INR 2 Cr.

About Buyer

Saksoft Group specialises in Enterprise Applications, Augmented Analytics, Intelligent Automation and Enterprise Cloud. The group is headquartered in Chennai, India, and has 16 offices across USA, Europe, and Asia, employing over 2000 employees.
www.saksoft.com

About Seller

A leader in software testing services and quality assurance, 360logica offers high-end software testing programs and test solutions to independent software vendors (ISVs), software product companies, and SMEs.

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